CIBC Private Wealth Group LLC Sells 214,951 Shares of Martin Marietta Materials, Inc. $MLM

CIBC Private Wealth Group LLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 30.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 481,937 shares of the construction company’s stock after selling 214,951 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.80% of Martin Marietta Materials worth $303,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MLM. Quent Capital LLC bought a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the 2nd quarter worth $28,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at $32,000. Grey Fox Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at $33,000. Finally, Osterweis Capital Management Inc. bought a new stake in Martin Marietta Materials during the 2nd quarter valued at $37,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $582.91 on Wednesday. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The stock has a market cap of $35.16 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.30 and a beta of 1.13. The stock’s fifty day simple moving average is $651.85 and its two-hundred day simple moving average is $632.30. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company earned $4.79 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is presently 17.66%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MLM shares. Truist Financial set a $710.00 price objective on shares of Martin Marietta Materials in a report on Thursday, February 12th. B. Riley Financial began coverage on shares of Martin Marietta Materials in a research report on Thursday, January 15th. They set a “neutral” rating and a $700.00 target price for the company. Jefferies Financial Group restated a “buy” rating and issued a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. Wells Fargo & Company dropped their price target on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Finally, Loop Capital downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target for the company. in a research note on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Hold” and an average target price of $696.88.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.